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Governors' Biofuels Coalition
NEWS UPDATE August 2, 2022

Top Story

Inflation Reduction Act welcomed by ethanol groups

By Erin Voegele, Ethanol Producer Magazine  •    •  Posted August 2, 2022

Senate Majority Leader Chuck Schumer, D-N.Y., and Sen Joe Manchin, D-W.V., on July 27 announced an agreement to add the Inflation Reduction Act of 2022 to the FY2022 Budget Reconciliation bill. The legislative package will benefit the U.S. ethanol industry, according to the Renewable Fuels Association and Growth Energy. The legislation, in part, includes tax incentives to support biofuel production and infrastructure, as well as carbon capture and storage (CCS).
[ read more … ]

States

California’s megadrought is worse than you think

By Anne C. Mulker, E&E News  •    •  Posted August 2, 2022

“We are dealing with a changed climate in California that demands we reimagine not just how we use water, but how we capture, store and distribute it throughout the state,” California Gov. Gavin Newsom said last week as he addressed local water leaders. Scientists pin a large share of the blame for the megadrought on climate change. UCLA climate scientist Park Williams, whose recent work flagged the ongoing Western drought as a historical anomaly, said about 40 percent of its severity is due to climate change. The study looked at California, Oregon, Arizona, Nevada, Utah, New Mexico, Colorado, Idaho, Wyoming and southwest Montana. [ read more … ]

Reconciliation Bill

Dems dive into make-or-break week for their party-line vision

By MARIANNE LEVINE and CAITLIN EMMA, Politico  •    •  Posted August 2, 2022

Senate Democrats are headed for a dizzyingly busy week: They’ll either be tying up the loose ends on a crowning legislative achievement more than a year in the making, or watching their health care, tax and climate bill hit more speed bumps live on C-SPAN. Majority Leader Chuck Schumer has told his caucus to prepare to stay in through the weekend to finish up the package. And it’s possible that the bill, which is expected to bring in about $739 billion in revenues, might not be finalized until it hits the Senate floor later this week. [ read more … ]

GOP Plans to Deploy Obscure Rule as Weapon Against Spending Bill

By Ari Natter, Bloomberg  •    •  Posted August 2, 2022

Republicans are using an obscure rule named for the Senate’s longest-serving member to challenge provisions of the Democrats’ surprise tax, health and climate deal in the hopes of whittling down the legislation. They’re  planning to challenge many of the provisions in the 725-page, $433 billion bill using the so-called Byrd Rule, which sharply limits the ability to pass legislation with a simple majority, a process known as reconciliation.  [ read more … ]

Democrats’ climate hopes hinge on Sinema

By Robin Bravender, E&E News  •    •  Posted August 2, 2022

But Sinema isn’t publicly endorsing the massive deal announced last week by her Democratic colleagues, Senate Majority Leader Chuck Schumer of New York and Sen. Joe Manchin of West Virginia. “Senator Sinema does not have comment as she’s reviewing the text and will need to see what comes out of the parliamentarian process,” her spokesperson Hannah Hurley told E&E News today. [ read more … ]

Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible

By Jim Tankersley, New York Times  •    •  Posted August 2, 2022

An analysis by the Joint Committee on Taxation, a congressional nonpartisan scorekeeper for tax legislation, suggests that the bill would raise about $70 billion over 10 years. But the increase would be front-loaded: By 2027, the bill would actually amount to a net tax cut each year, as new credits and other incentives for low-emission energy sources outweighed a new minimum tax on some large corporations. [ read more … ]

How the New Climate Bill Would Reduce Emissions

By Nadja Popovich and Brad Plumer, New York Times  •    •  Posted August 2, 2022

A major climate and energy package announced last week in a deal by Senate Democrats would put the United States much closer to its goal of cutting global warming pollution in half by 2030, several new independent analyses have concluded. If signed into law, the bill’s hefty tax incentives for low-carbon technologies could enable the country to cut its net greenhouse gas emissions by roughly 40 percent below 2005 levels by the end of this decade, according to forthcoming research by the Princeton-led REPEAT Project. While that falls short of President Biden’s goal to cut U.S. emissions by at least 50 percent below 2005 levels by 2030, experts said that additional policies like new federal regulations or more aggressive state and local climate action could help close the gap. [ read more … ]

Commentary

Why the Electric Car Revolution Won’t Change Everything

By Angus MacKenzieJul 30, 202, MotorTrend  •    •  Posted August 2, 2022

The end of the decade sounds a long way off. No more Rolling Stones gigs. The Cubs could win another World Series. The Tesla Model S will almost officially be a classic car. But in terms of designing, engineering, and building new electric cars, trucks, and SUVs, it’ll be here tomorrow. We’re no longer at the dawn of the electric automotive age. The sun’s up, and people are hard at work on the most profound change to the automobile since Henry Ford put the world on wheels. [ read more … ]

Red America Should Love Green Energy Spending

By Liam Denning, Bloomberg  •    •  Posted August 2, 2022

As much as green energy and emissions now form a wedge issue between blue and red America, the data show a much more purple reality. For one thing, Democratic representatives pushing for green stimulus dollars are often implicitly directing them toward red districts, because that’s where a lot of stuff will actually be built. Republicans decrying renewables as unreliable are often rhetorically at odds with a growing business in their home locales. [ read more … ]

EVs

Tesla Model 3s Sell Used for $91,000 to Eager Australian Buyers

By Ainsley Thomson, Bloomberg  •    •  Posted August 2, 2022

In a distant land the electric car industry has almost forgotten, one of the year’s unlikely best investments is turning out to be a new Tesla. Months-old Tesla Model 3s with only a few hundred miles on the clock are selling for around A$130,000 ($91,000) or higher in Australia, more than one-third above the price of a new one.  [ read more … ]

Americans support incentives for electric vehicles but are divided over buying one themselves

BY ISABEL WEBB CAREY, ALEC TYSON AND ALISON SPENCER, PEW  •    •  Posted August 2, 2022

Democrats in the U.S. Senate have reportedly reached an agreement on sweeping climate change legislation that would include tax credits for electric vehicles. A recent Pew Research Center survey – conducted before news of the potential Senate deal – found that a broad majority of U.S. adults support providing incentives to increase the use of electric or hybrid vehicles. At the same time, however, Americans are divided over whether they personally would consider buying an electric vehicle the next time they’re shopping for a new car or truck, and a majority oppose phasing out gas-powered vehicles in the years ahead. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.